Update: Ken Rosenthal is reporting the deal will be six years and in the "$85 million range."

Sources tell me and @jonmorosi that Adam Jones deal with #Orioles will be six years in $85 million range.

— Ken Rosenthal (@Ken_Rosenthal) May 25, 2012

First-place O's Set to Extend Their Best Player

The Baltimore Orioles are nearing a long-term extension with center fielder Adam Jones, according to Ken Rosenthal and Jon Paul Morosi of FOX Sports:

BREAKING: Sources tell me and @jonmorosi that #Orioles are close to signing Adam Jones to a long-term extension.

— Ken Rosenthal (@Ken_Rosenthal) May 25, 2012

Per several tweets from Rosenthal, Jones completed a physical yesterday and now the two sides are hammering out the final details of the contract. According to his sources, the deal is "well north" of Miguel Tejeda's six-year, $72 million free agent deal and Nick Markakis' six-year, $66 million extension.

He's earning $6.15 million this season as a second time arbitration eligible player, and any extension would buy out the rest of his arbitration eligibility -- as well as making him the highest paid player in Orioles history.

Jones, 26, is hitting .311/.357/.601 on the season, something of a breakout from his career .278/.322/.449.